Housing affordability back in spotlight following HIA Outlook report
The debate over increasing house prices and the vulnerability of first home buyers across Australia has been going on ever since the market saw an upswing in the last few years.
And the latest Housing Industry Association (HIA) National Outlook report puts some perspective on this growth. While housing construction levels are at an all time high, there's a degree of buyers – especially newcomers – being locked out of the market.
HIA chief economist Harley Dale said housing construction is responsible for propping up the Australian economy, with 2015 following in the footsteps of the explosive year prior.
"It is disappointing that despite record new housing supply, many Australians are being priced out of the market due to the excessive and inefficient taxation and regulation governments' impose on the new housing sector," said Mr Dale in a 18 May statement.
He went on to say that even with the low interest rate environment spurred on by the official cash rate cuts, new policy needs to be introduced to stimulate buyers.
If you're interested in buying or selling property in Burpengary, be sure to get in touch with a local real estate agent. Their expertise can help you figure out the right approach for your needs.